Private Revenue Outlook is in Line with State Forecast

Published January 8, 2019

Higher oil prices are expected to provide a lift to North Dakota’s economy. A private consulting firm presented its economic forecast to the Legislature, saying oil prices will move into the $50-to-$70 per barrel range. That would be in line with the state’s own forecast. The Colorado-based firm, HIS Markit, predicted a continued downturn in the farm economy. Representative Mike Brandenburg welcomes the second opinion on the two big industries in the state, oil and agriculture. “Agriculture has carried this state for 150 years; oil comes and goes,” said Brandenburg. “Oil can be really, really good or it can fall out of bed.” Brandenburg farms at Edgeley.